A recent decision by the Delaware Court of Chancery, In re Investors Bancorp Shareholder Litigation, C.A. No. 12327-VCS, serves as a reminder that boards of directors of Delaware corporations should consider amending their companies' director compensation plans to include specific limits on the amount of compensation (both cash and equity) that a director may be awarded in a given year, and obtaining stockholder approval of such compensation plans.
Compensation Plans: Director-Specific Limits
A recent decision by the Delaware Court of Chancery serves as a reminder that boards of directors of Delaware corporations should consider amending their companies' director compensation plans to include specific limits on the amount of compensation that a director may be awarded in a given year, and obtaining stockholder approval of such compensation plans.
By
Christopher B. Chuff, Joanna J. Cline, Douglass D. Herrmann and James H.S. Levine
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